Sei Investments Co. Buys 89,839 Shares of NovoCure Limited $NVCR

Sei Investments Co. boosted its stake in NovoCure Limited (NASDAQ:NVCR) by 367.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 114,281 shares of the medical equipment provider’s stock after buying an additional 89,839 shares during the quarter. Sei Investments Co.’s holdings in NovoCure were worth $1,246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NVCR. Empowered Funds LLC bought a new position in NovoCure during the 4th quarter valued at $33,000. Kestra Advisory Services LLC bought a new stake in shares of NovoCure in the 4th quarter worth $49,000. Larson Financial Group LLC grew its stake in shares of NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after acquiring an additional 3,562 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 1,120 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of NovoCure in the first quarter valued at about $87,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVCR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of NovoCure in a research report on Monday, July 13th. They set a “neutral” rating and a $17.00 price target on the stock. Wedbush upped their price objective on shares of NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. HC Wainwright set a $32.00 price objective on shares of NovoCure in a research note on Friday, July 24th. Wells Fargo & Company lifted their target price on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, Evercore reissued an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.20.

NovoCure Trading Up 2.0%

NASDAQ:NVCR opened at $17.66 on Wednesday. NovoCure Limited has a 12 month low of $9.82 and a 12 month high of $21.45. The company has a current ratio of 2.89, a quick ratio of 2.70 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $16.34 and its 200 day moving average is $14.33. The stock has a market capitalization of $2.06 billion, a PE ratio of -13.58 and a beta of 0.96.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.20. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The business had revenue of $183.58 million during the quarter, compared to analyst estimates of $172.44 million. During the same period in the prior year, the company earned ($0.36) earnings per share. NovoCure’s revenue was up 15.6% compared to the same quarter last year. Sell-side analysts expect that NovoCure Limited will post -1.21 earnings per share for the current year.

Insider Activity

In related news, Director Allyson J. Ocean sold 2,945 shares of NovoCure stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the sale, the director owned 11,324 shares of the company’s stock, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $17.93, for a total value of $614,514.89. Following the completion of the sale, the chief executive officer owned 459,520 shares in the company, valued at $8,239,193.60. This represents a 6.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 51,943 shares of company stock worth $893,171. 6.55% of the stock is owned by company insiders.

NovoCure Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.